Topic Cyber
Insuring a personal trainer depends on their employment status
October 13, 2021 by Brooke SmithA large part of a personal trainer’s job is making sure clients do their exercises safely. But personal trainers also need to protect themselves — using insurance. Each year, there are roughly 460,000 reported fitness injuries, according to the U.S.…
Double extortion: The new cyber threat
October 12, 2021 by Jason ContantYour cyber clients may now be exposed to two risks in one, as the sophistication of ransomware attack patterns continue to increase. “There’s double extortion tactics which are just crippling organizations now,” said Greg Markell, president and CEO of Ridge…
Will cyber insurance become mandatory?
October 7, 2021 by Canadian Underwriter StaffCyber insurance is set to become as essential as workers’ compensation insurance in the near future, a cyber insurance provider CEO has predicted. Vishal Kundi, CEO and co-founder of Toronto-based cybersecurity and insurance specialist MGA BOXX Insurance, told Canadian Underwriter…
Here are your security blindspots in the new hybrid workplace
October 5, 2021 by Jason ContantThe hybrid workplace increases your client’s cyber risk exposure, as cybercriminals have spotted new opportunities with a distributed workforce and are determined to exploit soft spots associated with remote work, HP suggests. According to the HP Wolf Security Blurred Lines…
Canadian cyber MGA looking for carrier partners for international expansion
October 5, 2021 by Greg MeckbachCanadian managing general agent BOXX Insurance Inc. is about to set up an office in Miami and is looking for carriers to underwrite its cyber coverages outside of Canada. Toronto-based BOXX announced last week it is expanding to the United…
7 in 10 Canadian organizations facing ransomware attacks paid demands: survey
October 5, 2021 by Salmaan Farooqui - THE CANADIAN PRESSCybersecurity experts say a new poll that suggests nearly 70 per cent of Canadian organizations facing a ransomware attack last year paid the demands is evidence that such payments should be made illegal. Of the businesses surveyed, 17 per cent…
Will cyber insurance rates double in the next couple years?
October 4, 2021 by Jason ContantPrices in the cyber re/insurance market could rise sharply between 2021 and 2023, in some cases doubling from current levels, according to a report from S&P Global Ratings. “Depending on the region and [terms and conditions], policyholders could expect rate…
Canadian cyber MGA expands to United States
October 1, 2021 by Greg MeckbachBOXX Insurance Inc. is expanding to the United States and has hired a former CEO Latin America for RSA to lead that move from Miami, the Toronto-based managing general agent and Lloyd’s coverholder announced Friday. Cyberboxx is the brand BOXX…
Less than half of SMEs are ‘very confident’ in their cyber defences: survey
September 29, 2021 by Maddie Johnson, Advisor’s EdgeThe vast majority of Canadian companies have cyber security protocols in place, yet many still fall behind when it comes to testing their systems, according to new research from KPMG LLP. The Toronto-based firm’s 2021 Cyber Security Poll found that…
Which cyber risks lurk on the horizon?
September 23, 2021 by Canadian Underwriter StaffAs brokers grapple with an evolving cyber insurance market, one managing general agent is looking ahead to help the industry keep pace. George Bozanin, managing partner and head of business development with Coalition Insurance Canada, told Canadian Underwriter the post-pandemic…
Eyes in the sky: coverage for drone usage
September 21, 2021 by Brooke SmithUnmanned aerial vehicles (UAVs) — known commonly as drones — were originally a tool solely for the military. Now they’re used regularly for civilian purposes such as photography, monitoring traffic and fighting fires, said Janarthan Sivarajah, senior new business manager,…
Understanding cyberattack techniques can improve your game
September 20, 2021 by Canadian Underwriter StaffKnowing the most common cybersecurity attacks can help brokers better advise their clients on risk mitigation strategies, a Canadian cyber insurance provider has said. Selling cyber policies remains a concern for many brokers, who are struggling to keep up with…